UDS announced the acquisition of Dealer Marketing Link, a Pennsylvania F&I services provider.
Mergers and alliances among factories are proliferating as the demand for mass-market electric vehicles increases and the cost to build them makes profitability impossible.
Fiat Chrysler and PSA Group have agreed to join forces to create the world’s No. 4 automaker in a $48 billion deal designed to save the factories billions in research and development costs.
Bloomberg reports Fiat Chrysler and PSA Group, which includes the Peugeot, Opel, and Citroen brands, could announce a merger as soon as this week, a deal that would form a General Motors-sized factory.
The results of Kerrigan Advisors’ first annual dealer survey show Subaru and Toyota franchisees lead the industry in believing their dealerships will increase in value, outpacing all other brands — including highlines.
Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.
Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.
Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.
American Auto Guardian Inc. has been acquired by Amynta Group, creating a combined footprint that includes 15,000 dealers and 1,400 agents in the U.S. and Canada.
The four-acre, 93,000-square-foot Beverly Hills BMW has been sold for $70 million, an amount billed as the highest ever paid to acquire a Los Angeles auto dealership.
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